Saudi Arabian traders stay away from deals for merchant bars and sections

摘要

Saudi Arabia sees some end-user demand improvement in the segment of merchant bars and sections after the religious holidays. Nevertheless, traders are not buying actively now as they are sitting on high stocks.Over the past month, the majority of regional suppliers have reduced prices by $10-44/t. The reduction could have been bigger if GCC mills had not increased their prices by $15-20/t before the holidays driven by the improvement of billet export prices from China.